Yes. To this I would add: before satoshium, there is no way to give someone bitcoin hand to hand and trust free, without requiring the recipient to understand bitcoin addresses and how to determine the value.

With satoshium all you need is the token and the phone client shows you the dollar value which the only thing a newbie cares about. All complexity is hidden.

Contrary to global platform facilities claimed in the posted whitepaper, we have determined that the cryptoprocessor manufacturer does not sign install receipts. In fact, there is generally no widely known public key for the cryptoprocessor manufacturer. We are reworking section 5 of the whitepaper (counterfeiting) in light of this new information.

Meanwhile we are looking into an alternate third party attestation mechanism that makes insider attacks sufficiently unfeasible in practice. Stay tuned.